TRAVELLERS CHEQUES

Some people prefer the security of buying travellers cheques over cash. Travelling with large amounts of cash can be risky as in the event of loss or if it is stolen it may be hard to recover via insurance. With travellers' cheques, if these are lost or stolen, they can be immediately cancelled and replacement cheques can be ordered. Most companies will also provide you with emergency cash until such replacements arrive. When deciding on who to get your cheques from look at the delivery methods and the associated charges, so that you can pick which company provides the travellers cheques you want. Some companies offer home delivery; so your travellers cheques will arrive by courier to your house or you might prefer to pick the cheques up at the airport or any other available foreign exchange branch. If there is the possibility that you may return with a significant amount of cash, you may want to look for a commission free buy back feature.

Commission free Travellers Cheques - must be collected from a Travelex Kiosk before departure. Kiosks at all major UK airports including Heathrow Terminal 5. Travelex is probably the most well know name in foreign exchange in the UK. Their kiosks are everywhere so you shouldn't have trouble finding them. Alternatively apply on line and have your traveller's cheques delivered to your door. Please make sure that you read the terms and conditions of these traveller's cheques on the Travelex website before you make a purchase. DETAIL INFORMATION >>

Related Travellers Cheques Products

Why buy travellers cheques?

When is the best time to use traveller's cheques?

Travellerís cheques are used less commonly these days than they were in the past. However, people often find them useful when going abroad to more remote locations where ATMs and credit card machines are likely to be scarce. The advantage of travellerís checks is their security. If your travellerís cheques are stolen they can be replaced by the issuer.

Who provides traveller's cheques?

Almost all credit card companies and banks have their own brand of travellerís cheques but that does not mean that every brand will be acceptable to merchants in the countries you are travelling to. There is the advantage of safety in that travellerís cheques can often be replaced as quickly as the following day. Not only that but only the person with their name on the travellerís cheques cash them so they are useless to thieves.

How convenient are travellerís cheques?

However, if you want to cash travellerís cheques abroad it is likely that you will need to find a bank to carry out this sort of transaction. This can be problematic if you are in a remote location. These days many people consider travellerís cheques a hassle because of the convenience of credit cards and international currency cards which while being secure can also provide a list of itemised transactions which can be very useful.

There are fees and charges associated with travellerís cheques

There is often a fee for purchasing travellerís cheques and sometimes there are charges from the merchants who cash travellerís cheques. However, if you are an American Express member then the fee should be waved when purchasing travellerís cheques. If you cash your travellerís cheques from a branch of the same bank from which your travellerís cheques were issued there should also be no charge. It is also common for credit and debit card companies to charge fees for foreign transactions.

Travellerís cheque alternatives

There are some companies who now offer travellerís cheque cards. These cards can be used at ATMs to withdraw cash and they are also more commonly accepted among foreign merchants. The fees may also be cheaper than using paper travellerís cheques. However, many people do not opt for this method as there can be a lot of other charges such as fees for adding money to the card. It can also be more convenient to use a foreign exchange card or a normal credit or debit card.

Comparing travellers cheque service providers

A disadvantage of Travellers Cheques is that you could still incur charges at the local banks or Bureaux de Change. They may charge you a commission rate or offer a poor exchange rates. To avoid this, ensure that you check these before you exchange your money. Foreign exchange brokers are likely to offer you a better rate so make sure you do your research properly before you commit. If you are in any doubt then seek independent advice.

A lot of people prefer the simplicity of a pre-paid currency card to taking foreign currency/travellers cheques abroad or using their normal credit and debit cards. There are several advantages of using a prepaid currency card.

For anyone who is busy planning their trip abroad, foreign exchange will be near the top of the Ďto doí list. Finding a company that is offering good exchange rates is important Ė so let us look at who is offering the cheapest rates todayÖ